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Bonds 205: TIGRs, CATS, and LIONs

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1.
Compared to its face value, the issuing price of a CATS or TIGR was _______.
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Much lower. Like that of all zero coupon securities, the issuing price was deeply discounted.
2.
Even though felines were issued by private firms, they were still relatively secure bonds.
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True. Even though they were issued by private firms, these bonds were based on Treasury securities held in escrow.
3.
Compared to its face value, the issuing price of a zero coupon bond is _______.
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Much lower. Zero coupons are issued at deep discounts from their face values.
4.
TIGRs, CATS, and LIONs are acronyms _______.
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Created by brokerage firms. TIGRs, CATS, and LIONs are acronyms created by brokerage firms for securities based on Treasury bonds.
5.
All of the following were benefits of TIGRs, CATS, and LIONs except _______.
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Ownership of a Treasury security. Ownership of a Treasury security was not a feature of the felines, which were securities issued by private firms.